London weakest region in house price slowdown

5th January 2018

London weakest region in house price slowdown

Data from Nationwidehas revealed that, for the first time in eight years, house prices in London have fallen, with values down 0.5%. On average UK house prices grew by 2.6% last year compared to growth of 4.5% in 2016, with the West Midlands emerging as the country’s new property hotspot as prices climbed 5.2%. “London saw a particularly marked slowdown, with prices falling in annual terms for the first time in eight years, albeit by a modest 0.5%. London ended the year the weakest performing region for the first time since 2004”, said Robert Gardner, Nationwide’s chief economist.

Financial Times (04/01/2018)